Awqaf Dubai and Partners Launch Women Sukuk for Breast Cancer Awareness

In a significant move towards enhancing social welfare through Islamic finance, the Mohammed bin Rashid Global Centre for Endowment Consultancy (MBRGCEC), in collaboration with the Arab Women Authority and National Bonds, has announced the launch of the "Women Sukuk." This initiative is a strategic extension of the Sukuk Al Waqf endowment project, which was unveiled in 2022 by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council.

The "Women Sukuk" aims to address and support breast cancer treatment and awareness, marking a pivotal step in the collective efforts of these organizations to leverage financial instruments for societal benefits. The memorandum of understanding outlines that National Bonds will spearhead the investment activities, while the Arab Women Authority will utilize the returns for breast cancer initiatives. Concurrently, Awqaf Dubai will oversee the program's effective execution.

This partnership emerges in response to the increasing breast cancer cases in the UAE, where, according to the World Health Organization's latest report, 21.6% of all cancer cases in the nation are breast cancer. Khaled Al Thani, Deputy Secretary-General of Awqaf and Minors Affairs Foundation, highlighted the foundation's commitment to enhancing healthcare and reducing breast cancer incidences among women through sustainable financial strategies.

Mohammed Al-Dulaimi, Secretary-General of the Arab Women Authority, expressed gratitude for this strategic alliance, emphasizing its role in bolstering community support for health and development projects aimed at combating breast cancer. Mohammed Qasim Al Ali, Group Chief Executive Officer of National Bonds, also shared his enthusiasm for the initiative's potential to create a meaningful impact on breast cancer treatment and awareness.

The "Women Sukuk" will be integrated into the Sukuk Al Waqf ecosystem through its website, offering transparency and real-time updates on the project's progress. The agreement was officially signed by Zainab Juma Al Tamimi, Director of MBRGCEC on behalf of Awqaf Dubai; Dr. Lina Abu Baker, Executive Director of the Arab Women Authority; and Rehab Lootah, Group Deputy Chief Executive Officer at National Bonds.

This innovative approach not only underscores the commitment of these entities to advancing health-related causes but also demonstrates the potential of Islamic finance as a tool for social change. The "Women Sukuk" is set to make a significant contribution to breast cancer awareness and treatment efforts in the UAE, reflecting a broader dedication to improving community health and well-being.

With inputs from WAM